1st Nov 2019 14:24
(Alliance News) - Tower Resources PLC said Friday it has signed a contract with Geoquip Marine Operations AG for a site survey at the intended JNOM-3 well location on its Thali licence in Cameroon.
The Africa-focused oil and gas company said the drillship MV Investigator will arrive in Cameroon between November 15 and December 30, subject to all relevant permits and the requisite license extension being received from the Ministry of Mines prior to mobilisation.
The work will comprise three boreholes, each with cone penetration testing, and is a necessary prerequisite to drilling the NJOM-3 well.
Tower Resources said the survey is the final operational step before commencing drilling, and the cost of the survey is in line with the budget previously anticipated.
Chair and Chief Executive Officer Jeremy Asher said: "We are looking forward to getting the site survey underway, which should be the final operational step before commencing drilling operations at Njonji."
"We are still awaiting the formal extension from the Ministry, but we are confident that this will be in place in good time for the survey," Asher noted.
Tower Resources shares were down 1.3% in London at 0.40 pence each on Friday afternoon.
By Loreta Juodagalvyte; [email protected]
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